The Minister for Trade and Industry, Elizabeth Ofosu-Agyare, has presented a comprehensive update to Parliament regarding the government’s progress in resetting the national economy through the Accelerated Export Development Programme (AEDP). The initiative is designed to scale export-oriented enterprises, particularly within the non-traditional sector, by expanding production for existing markets and penetrating new global territories with high-value-added products.
A cornerstone of this diversification strategy involves the distribution of 211,000 coconut seedlings to farmers across the Volta, Eastern, Central, Western, and Ashanti regions. The Minister indicated that this effort to broaden export product lines will extend to other regions during the second phase of the distribution.
These domestic efforts are being matched by aggressive international marketing; the Ministry recently supported 79 enterprises in participating in major trade fairs in China, Germany, and Italy. These exhibitions proved highly successful, with local businesses securing orders valued at $325 million and €2.7 million.
To sustain this growth, the Ghana Export Promotion Authority (GEPA) has focused on intensive capacity building. Through its Export School, 62 small and medium enterprises (SMEs) received training in export market intelligence, financing, and trade logistics. Furthermore, advisory services were provided to 850 MSMEs to improve market penetration and adherence to export trade protocols.
In tandem with these training efforts, the Ghana Free Zones Authority has fully deployed a single-window digital platform to expedite export processing, while 27 free zone enterprises have been registered to actively participate in the African Continental Free Trade Area (AfCFTA) market.
Addressing regulatory challenges, Hon. Ofosu-Agyare highlighted a significant policy breakthrough achieved through engagement with the Bank of Ghana. To enhance competitiveness and provide relief to exporters, the repatriation deadline for export proceeds under the Letter of Commitment (LOC) policy has been extended from 60 to 120 days. This adjustment allows Ghanaian exporters to offer more favorable payment terms to international clients while remaining compliant with national regulations.
According to her, quality assurance remains a top priority to ensure Ghanaian goods meet international standards, particularly those of the European Union. The Ghana Standards Authority (GSA) has inspected 1,279 export consignments and fishing vessels, certified 278 locally manufactured products, and issued over 1,100 health and export certificates.
These measures are complemented by the “Feed the Industry” initiative under the Ghana FIRST program, which secures raw material chains. Notably, the Agogo Traditional Council has earmarked over 40,000 acres for commercial contract farming, and the government has prohibited the export of raw rubber and non-ferrous scrap metal to prioritize local industrial processing.
The Minister concluded by noting that the Ghana Exim Bank is currently assessing companies that received initial funding for infrastructure but lack sufficient working capital to begin operations.
The government intends to extend further credit lines to these entities to ensure local production is maximized. These multifaceted interventions, spanning domestic production and export expansion, remain central to the vision of building a resilient, inclusive, and export-led Ghanaian economy.
Story By: Eugenia Ewoenam Osei
